KKR Takes Majority Stake in Cisternina to Build Pan-India Liquid Storage Platform
KKR is trading near its 52-week low of $82.67 (12% above the low) on light trading volume (0.1× avg).
Summary
KKR is making a majority investment in Cisternina Logistics, a newly formed Indian bulk liquid and gas storage platform established in 2024. The deal supports Cisternina's proposed acquisition of Ganesh Benzoplast's liquid storage terminal and rail business, which will serve as the platform's anchor asset and brings roughly 500,000 KL of operating and under-construction capacity at JNPT, Cochin, and Goa. Cisternina aims to scale to about 1.5 million KL through further acquisitions, greenfield development, and brownfield expansion, serving customers across the energy, chemicals, bulk liquids and edible oil sectors. The platform plans to invest in management capabilities, governance, operating systems and safety standards. Financial terms were not disclosed, but the investment fits KKR's existing Asia Pacific infrastructure strategy and adds to its growing India logistics portfolio. The transaction remains subject to customary closing conditions and regulatory approvals.
Updated with an Economic Times report · What changed
Updates
· Economic Times — KKR's investment will support Cisternina's proposed acquisition of Ganesh Benzoplast's liquid storage terminal and rail business, which will serve as the platform's anchor asset.
- Platform Overview — Cisternina Logistics was established in 2024 and will serve customers across the energy, chemicals, bulk liquids and edible oil sectors.
- Growth Plans — Cisternina plans to scale through brownfield expansion and invest in management capabilities, governance, operating systems and safety standards.
- Executive Comments — KKR sees an opportunity to apply its platform-building approach to India's liquid and gas logistics sector; Cisternina's founder views the GBL acquisition as an important first step providing an established operating base at strategic ports.
All 6 details
- Cisternina Logistics was established in 2024.
- Cisternina will serve customers across the energy, chemicals, bulk liquids and edible oil sectors.
- Cisternina plans to scale through brownfield expansion.
- Cisternina plans to invest in management capabilities, governance, operating systems and safety standards.
- Ravi Thanvi, director, real assets, KKR India, said: "At KKR, we have significant experience building and scaling infrastructure platforms in India, combining long-term capital with the operational expertise of strong management teams. We see an opportunity to apply this platform-building approach to India's liquid and gas logistics sector."
- Amit Saboo, founder and managing director at Cisternina Logistics, said: "The acquisition of GBL's liquid storage terminal business represents an important first step, providing us with an established operating base at strategic ports and a strong foundation for future growth. With KKR's long-term capital, infrastructure and operational expertise, we look forward to investing in these assets, expanding our capabilities and building a differentiated platform for our customers."
At the time of this announcement, KKR was trading at $93.00 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $83.5B. The 52-week trading range was $82.67 to $144.84. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: BusinessWire.